Artificial Intelligence (AI) in Manufacturing Market Size & Share Report, Growth, Trends, 2032

Artificial Intelligence (AI) in Manufacturing Market Insights

According to Zion Market Research, the global Artificial Intelligence (AI) in Manufacturing Market was worth USD 3.45 Billion in 2023. The market is forecast to reach USD 47.02 Billion by 2032, growing at a compound annual growth rate (CAGR) of 33.68% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Artificial Intelligence (AI) in Manufacturing Market industry over the next decade.

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This report offers a comprehensive analysis of the global artificial intelligence (AI) in manufacturing market along with market trends, drivers, and restraints. This report includes a detailed competitive scenario and product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

An important part of computer science involved in developing intelligent machines that react and work like a human being is known as artificial intelligence (AI). It plays a significant role in various sectors, such as education, finance, manufacturing, and heavy industry. AI has brought a paradigm shift in the manufacturing industry. Virtual reality, automation, Internet of Things (IoT), and robotics are some important features of AI that are benefitting the manufacturing industry. Artificial Intelligence (AI) is currently transforming the manufacturing industry. The ongoing maintenance of manufacturing equipment and production line machinery results in huge expenditures due to unplanned downtime costs. According to a recent survey, the manufacturers accrue nearly over USD 50 billion of annual maintenance cost due to unplanned manufacturing activities. Due to such expenses, the adoption of predictive maintenance to get prior warnings about upcoming component failures is becoming mandatory for the manufacturers.

The predictive maintenance analysis works on artificial intelligence (AI) algorithms and artificial neural networks. Along with downtime cost reduction, it helps in the extension of equipment’s RUL (Reduction of Life). In case of unavoidable maintenance, AI informs the technicians for advanced inspection much before the situation arises. The emerging need for smart maintenance application in the manufacturing industry is majorly driving the global artificial intelligence (AI) in manufacturing market worldwide. Huge initial investments in deploying artificial intelligence (AI) in already existing mechanical robots are hindering the market. The integration of AI has revolutionized product designing techniques. The rising demand for generative designs is estimated to create new market opportunities over the forecast timeframe.

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Global Artificial Intelligence (AI) in Manufacturing Market: Segmentation

The global artificial intelligence (AI) in manufacturing market is segmented on the basis of offering, technology, application, end-user, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

The offering segment is classified into hardware, software, and services.

The technology segment includes machine learning, context-aware computing, natural language processing, and computer vision.

By application, the artificial intelligence (AI) in manufacturing market includes production planning, predictive maintenance, and machinery inspection, material movement, quality control, field services, cybersecurity, and others. The predictive maintenance and machinery segment is anticipated to grow rapidly over the forecast timeframe, due to the rising demand for smart maintenance for overall downtime cost reduction.

By end-user, the artificial intelligence (AI) in manufacturing market include energy and power, automotive, food and beverages, semiconductors and electronics, heavy metals and machine manufacturing, pharmaceuticals, and others.

The regional segment includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into major countries, such as the U.S., Canada, Mexico, UK, France, Germany, China, India, Japan, South Korea, Brazil, Argentina, and GCC Countries.

By region, the Asia Pacific artificial intelligence (AI) in manufacturing market is likely to register prominent growth in the upcoming years due to the remarkable presence of the manufacturing industry. Out of all the emerging Asian countries, China is projected to dominate this regional market in the years ahead.

Artificial Intelligence (AI) in Manufacturing Market: Report Scope

Artificial Intelligence (AI) in Manufacturing Market: Competitive Analysis

Some key participants operating in the global artificial intelligence (AI) in manufacturing market are

• Corporation
• Google
• Siemens
• NVIDIA
• General Vision
• Darktrace
• AIBrain
• Oracle Corporation
• Cisco Systems Inc.
• General Electric Company
• Microsoft Corporation
• among others

The report segments artificial intelligence (AI) in manufacturing market as follows:

Artificial Intelligence (AI) in Manufacturing Market: Offering Analysis

• Hardware
• Software
• Services

Artificial Intelligence (AI) in Manufacturing Market: Technology Analysis

• Machine Learning
• Context-Aware Computing
• Natural Language Processing
• Computer Vision

Artificial Intelligence (AI) in Manufacturing Market: Application Analysis

• Production Planning
• Predictive Maintenance and Machinery Inspection
• Material Movement
• Quality Control
• Field Services
• Cybersecurity
• Others

Artificial Intelligence (AI) in Manufacturing Market: End-User Analysis

• Energy and Power
• Automotive
• Food and Beverages
• Semiconductors and Electronics
• Heavy Metals and Machine Manufacturing
• Pharmaceuticals
• Others

Artificial Intelligence (AI) in Manufacturing Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa